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Bank of Spain completes branch restructuring

Spain's central bank has completed its branch restructuring program and will close 10 branches in a number of Spanish cities, reducing its total number of branches to 22.

According to the bank, the branches closed had smaller business volumes, accounting for just 18 per cent of business volume. A total of 331 staff were affected by the closures, with 190 opting for voluntary retirement and 141 for a transfer to another branch.